In a major development for cricket broadcasting, Sony Culver Max has secured the Asian Cricket Council (ACC) media rights for the 2024-31 cycle. With a winning bid of $170 million, this marks a substantial 70% increase from the previous cycle. This acquisition has left the industry buzzing, especially given the absence of major players like Jio and Disney from the auction.
Media rights in sports refer to the exclusive permission granted to broadcasters to televise or stream sports events. These rights are a critical revenue source for sporting bodies and a golden ticket for broadcasters to engage massive audiences.
The Asia Cup, being one of the premier cricket tournaments, garners immense attention worldwide. Its media rights are particularly lucrative, encompassing matches across various formats and demographics.
The ACC media rights auction was conducted through an e-auction process facilitated by M-Junction, a renowned service provider. This transparent and competitive approach ensures fair bidding among broadcasters.
For the 2024-31 cycle, the base price for the media package, which includes TV and digital rights, was set at $170 million, reflecting the growing value of cricket content.
With a bid of $170 million, Sony Culver Max secured exclusive broadcasting rights for the Asia Cup. This win marks a major milestone for Sony, significantly enhancing its position in cricket broadcasting.
The $170 million deal represents a 70% hike from the previous $100 million cycle handled by Disney-Star between 2016 and 2023. This increase highlights the surging value of cricket media rights globally.
“The base price for the global media package was kept at $170 million.”
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Interestingly, Jio and Disney did not participate in the auction. Reports suggest an internal arrangement where Disney was expected to represent their interests. However, their absence paved the way for Sony to emerge victorious unchallenged.
This no-show has left many questioning the strategic decisions of Jio-Disney. With an already robust portfolio that includes IPL and ICC rights, missing out on ACC rights could limit their dominance in cricket broadcasting.
The ACC media rights package is extensive, covering:
By including both TV and digital rights, the package ensures a global footprint for the Asia Cup. With digital streaming gaining traction, Sony is poised to attract a wider audience and redefine cricket consumption patterns.
While this win is monumental, it comes with challenges. Sony must deliver high-quality broadcasts, meet viewer expectations, and ensure profitability amid the hefty investment.
Sony Culver Max’s acquisition of the ACC media rights marks a pivotal moment in cricket broadcasting. With a massive $170 million investment, they have not only secured premium content but also positioned themselves as a powerhouse in sports media. The future of cricket broadcasting promises excitement, innovation, and fierce competition.
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What are ACC media rights, and why are they important?▼
ACC media rights grant exclusive broadcasting access to major cricket tournaments, driving revenue and audience engagement.
Why did Jio-Disney not participate in the auction?▼
Reports suggest an internal arrangement where Disney was expected to represent their interests, but they opted out at the last moment.
What is the significance of the 70% hike in media rights value?▼
It reflects the growing popularity and commercial value of cricket as a broadcast property.
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